Huntsman Selects Geismar, Louisiana as Site for Maleic Anhydride Expansion

Published on 2006-03-01. Author :
SpecialChem

The Woodlands, TX -- Peter R. Huntsman, President and
CEO of Huntsman Corporation (NYSE: HUN), announced the selection of Huntsman's
Geismar, Louisiana site as the location for the Company's previously announced
new 100 million pound world scale maleic anhydride facility. The Company
will commence detailed engineering and reactor procurement immediately.
Huntsman has chosen a fast track implementation model that will enable
the plant to startup in the 3rd quarter of 2008.

Huntsman Vice President, Tom Fisher, commented, "We
want to move as quickly as possible to respond to our customer's
growing requirements and to help ensure the long term supply of maleic
anhydride in North America. The Geismar site was chosen after evaluating
six possible locations. Huntsman has a world scale MDI manufacturing complex
at the site. We are confident that the Geismar site will provide the most
attractive economics for the plant due to the feedstock availability and
the ability to leverage off existing Huntsman infrastructure currently
located at the Geismar site."

Maleic anhydride is the building block for unsaturated polyester resins
used mainly in the production of fiberglass reinforced resins for construction,
automotive and marine products. It is also used in formulations for oil
additives, food additives, paper chemicals, epoxies, as well as other
applications. Huntsman is a leading global producer of maleic anhydride
and currently has the annual capacity to produce 240 million pounds at
its Pensacola, Florida facility. Huntsman also owns a 50% interest in
a joint venture in Moers, Germany that currently has an annual capacity
of 125 million pounds.

Huntsman is a global manufacturer and marketer of differentiated and
commodity chemicals. Its operating companies manufacture basic products
for a variety of global industries including chemicals, plastics, automotive,
aviation, footwear, paints and coatings, construction, technology, agriculture,
health care, textiles, detergent, personal care, furniture, appliances
and packaging. Originally known for pioneering innovations in packaging,
and later, rapid and integrated growth in petrochemicals, Huntsman today
has 11,300 employees, 57 operations in 22 countries and had 2005 revenues
of $13 billion.

Statements in this release that are not historical are forward-looking
statements. These statements are based on management's
current beliefs and expectations. The forward-looking statements in this
release are subject to uncertainty and changes in circumstances and involve
risks and uncertainties that may affect the company's
operations, markets, products, services, prices and other factors as discussed
in the Huntsman companies' filings with the Securities
and Exchange Commission. Significant risks and uncertainties may relate
to, but are not limited to, financial, economic, competitive, environmental,
political, legal, regulatory and technological factors. Accordingly, there
can be no assurance that the company's expectations
will be realized. The company assumes no obligation to provide revisions
to any forward-looking statements should circumstances change, except
as otherwise required by securities and other applicable laws.